Question

I am in the process of refinancing my house. One of the stipulations of the lender is that I pay off and CLOSE all accounts including several credit cards and an auto loan. My score is 697 according CreditKarma (645 according to banker). I am not sure if this is good advise. But wanted to pull some extra cash out of home to do some repairs that are necessary and yes, pay off some debt... but close everything??????

Your Credit Scores Should Be Free. And Now They Are.

Reply to this Question

Write your response:

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.